Higher sales in Mexico and US propel Cemex to $70 million profit

Mexican cement producer Cemex on Thursday reported net income of $70 million for the fourth quarter, compared with a $238 million loss a year earlier, bolstered by higher sales in the United States and Mexico.
 

Overall, despite the severe economic disruptions worldwide sparked by the pandemic, Cemex reported a 1% year-on-year increase in net sales on a like-to-like basis.
 

"2020 was one of the most challenging years we have faced but it also was a remarkable year that tested the strengths of Cemex," said Chief Executive Officer Fernando Gonzalez.
 

The Monterrey-based company, which operates in more than 50 countries, reported